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Ingredion Incorporated

Ingredion Incorporated

NYSE•INGR
CEO: Mr. James P. Zallie
Sector: Consumer Defensive
Industry: Packaged Foods
Listing Date: 1997-12-11
Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers starch products for use in a range of processed foods; cornstarch; specialty paper starches for enhanced drainage, fiber retention, oil and grease resistance, improved printability, and biochemical oxygen demand control; starches and specialty starches for textile industry; industrial starches are used in the production of construction materials, textiles, adhesives, pharmaceuticals, and cosmetics, as well as in mining and water filtration; and specialty industrial starches for use in biomaterial applications, including biodegradable plastics, fabric softeners and detergents, hair and skin care applications, dusting powders for surgical gloves, and in the production of glass fiber and insulation. It also provides sweetener products comprising glucose syrups, high maltose syrup, high fructose corn syrup, dextrose, polyols, maltodextrin, glucose syrup solids, and non-genetically modified organism syrups for applications in food and beverage products, such as baked goods, snack foods, canned fruits, condiments, candy and other sweets, dairy products, ice cream, jams and jellies, prepared mixes, table syrups, and beverages. In addition, the company sells refined corn oil, corn gluten feed, and corn gluten meal; and other products, including fruit and vegetable products, such as concentrates, purees, and essences, as well as pulse proteins and hydrocolloids systems and blends. The company was formerly known as Corn Products International, Inc. and changed its name to Ingredion Incorporated in June 2012. Ingredion Incorporated was founded in 1906 and is headquartered in Westchester, Illinois.
Contact Information
5 Westbrook Corporate Center, Westchester, IL, 60154, United States
708-551-2600
www.ingredion.com
Market Cap
$7.03B
P/E (TTM)
10.6
17.5
Dividend Yield
3.0%
52W High
$146.50
52W Low
$102.31
52W Range
15%
Rank27Top 10.6%
5.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$1.82B-2.89%
4-Quarter Trend

EPS

$2.66-7.64%
4-Quarter Trend

FCF

$470.00M+9.56%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Operating Income Increased YTD Operating Income reached $796M, up 10% from $721M in 2024, driven by lower charges.
Gross Margin Expansion YTD Gross Profit Margin improved to 26% in 2025 from 24% in 2024 due to lower raw material costs.
Net Income Growth Net income attributable to Ingredion was $564M YTD 2025, increasing from $552M in 2024, excluding divestiture gain.
New Credit Facility Secured New $1.0B unsecured revolving credit facility established, replacing prior agreement, securing liquidity through August 2030.

Risk Factors

Net Sales Volume Decline YTD Net Sales decreased 3% to $5,462M in 2025, driven by unfavorable price mix and lower volumes globally.
Operating Cash Flow Drop Cash provided by operating activities fell sharply to $539M YTD 2025 from $1,000M in 2024 due to working capital.
U.S./Canada Segment Weakness F&II-U.S./Canada net sales dropped 6% YTD due to softer beverage and food industry demand and price mix.
Divestiture Comparability Issues South Korea divestiture in 2024 complicates year-over-year comparisons within the All Other segment results.

Outlook

2025 Capital Spending Guidance 2025 capital investment commitments anticipated between $400M and $425M for facility updates and expansion projects.
New Share Buyback Program Board approved new $8.0M share repurchase program effective November 2025 through December 2028, replacing prior plan.
Strong Liquidity Position Total available liquidity stands at $3.8B as of September 30, 2025, sufficient for next twelve months operations.
Accounting Standard Adoption Adopted ASU 2023-05 prospectively for joint venture accounting, impact on Agrana JV not expected to be material.

Peer Comparison

Revenue (TTM)

Pilgrim's Pride CorporationPPC
$18.35B
+1.8%
Conagra Brands, Inc.CAG
$11.45B
-4.1%
The Campbell's CompanyCPB
$10.16B
+2.7%

Gross Margin (Latest Quarter)

e.l.f. Beauty, Inc.ELF
69.4%
-1.7pp
New Oriental Education & Technology Group Inc.EDU
58.1%
-1.2pp
Ollie's Bargain Outlet Holdings, Inc.OLLI
41.3%
-0.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
PPC$9.13B7.433.6%2.0%
EDU$8.52B23.29.8%9.8%
CPB$8.40B21.89.8%45.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
0.3%
Moderate Growth
4Q Net Income CAGR
21.6%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 3, 2026
|
EPS:$2.60
|
Revenue:$1.78B
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 7, 2025|
    Revenue: $1.82B-2.9%
    |
    EPS: $2.66-7.6%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 11, 2025|
    Revenue: $1.83B-2.4%
    |
    EPS: $3.04+35.1%
    Meet
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $1.81B-3.7%
    |
    EPS: $3.05-7.3%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 20, 2025|
    Revenue: $7.43B-8.9%
    |
    EPS: $9.88+1.4%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $1.87B-8.0%
    |
    EPS: $2.88+20.5%
    Meet
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $1.88B-9.2%
    |
    EPS: $2.25-8.5%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $1.88B-11.9%
    |
    EPS: $3.29+13.8%
    Meet
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 21, 2024|
    Revenue: $8.16B+2.7%
    |
    EPS: $9.74+31.1%
    Beat